Tax

By any measure, the tax code is huge. It is over 2,000 pages long, and even longer with footnotes.1 And almost weekly, the Internal Revenue… Read More »Understanding Marginal Income Tax Brackets

The Internal Revenue Service estimates that taxpayers and businesses spend about 8 billion hours a year complying with tax-filing requirements. To put this into perspective,… Read More »How Income Taxes Work

Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money. The average household… Read More »What Do Your Taxes Pay For?

“Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high.… Read More »What If You Get Audited?

According to the most recent information available, Americans have individual life insurance with a total face value of $12.4 trillion.1 Due to a variety of… Read More »What Is a 1035 Exchange?

American educational reformer Horace Mann called education “the great equalizer.” In football, it’s been said that turnovers are the great equalizer. In taxes, there’s also… Read More »Do You Owe The AMT?

By May 20, 2022, over 145 million taxpayers had dutifully filed their federal income tax returns.1 And they all made decisions about deductions and credits… Read More »How to Make the Tax Code Work for You

While Americans are entitled to take every legitimate deduction to manage their taxes, the Internal Revenue Service (IRS) places limits on your creativity. Here are… Read More »Tax Deductions You Won’t Believe

No one wants to see an Internal Revenue Service (IRS) auditor show up at their door. The IRS can’t audit every American’s tax return, so… Read More »Red Flags for Tax Auditors

Between 30 percent and 60 percent of taxable property has an inflated assessment, which may lead to higher property tax bills. Moreover, typically fewer than… Read More »How to Appeal Your Property Taxes